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DeKalb Times

Friday, November 22, 2024

Former state university employee Pardridge paid in $38K to pension fund, could collect $1.18M in retirement

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Former state university employee Sandra Pardridge, who retired in September 2017, saved $38,400 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pardridge would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Pardridge received $24,781 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pardridge will have already received $50,305 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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